Raise question - do you cap salary after a certain point?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know the standard raise is $1/year then $1-2 for an additional child (if say you have one now then have another baby).

But, does it ever end? Otherwise let's say....

Year 1 - $17/hr ($20 including taxes)
Year 2 - $18/hr ($21 including taxes)
Year 3 - $20/hr ($23 including taxes) -- add one child +$2
Year 4 - $21/hr ($24 including taxes)
Year 5 - $22/hr ($25 including taxes)
Year 6 - $23/hr ($26 including taxes)
Year 7 - $24/hr ($27 including taxes)
Year 8 - $25/hr ($28 including taxes)

I mean, should it stop at a certain point? I imagine that if I'm paying my nanny $25/hr by the end, then she will either have to charge that with a new family, or start again at the bottom? Then, with a new family if she does charge the higher end, then how do you go up from there? Is she then making $30-$40/hr?

When older child goes to kindergarten, are you still then paying the higher rate even though now she's back to mainly one full-time? (I do pay for the couple days a week one of both are in preschool)

Just wondering what others do, or if after say $25/hr do you stop giving an annual $1/hour raise?

I know a local nanny earning $65/hr. But even if your friends could afford that, why would they tell you?

Affording and paying are two different things. The $65/hr nanny is an outlier.

[Anonymous]

Anonymous wrote:Why do you assume nannies make $1 more each year? I get cost of living raise more like 5% each year

Seriously, if the nanny is making $15, a $1 raise is a 6.6% raise. Even if the rate were $20, it's a high 5 percent raise. I wish my job would give me 5 percent raises every year!